The Managing Director and Chief Executive Officer of Nigeria LNG Limited , Dr Philip Mshelbila, has expressed optimism regarding the recent Executive Order on Oil and Gas Reforms signed by President Bola Ahmed Tinubu.The Managing Director and Chief Executive Officer of Nigeria LNG Limited , Dr Philip Mshelbila, has expressed optimism regarding the recent Executive Order on Oil and Gas Reforms signed by President Bola Ahmed Tinubu.
He emphasised that the executive order would incentivise the much-needed investments, addressing specific challenges hindering the ease of doing business and attracting investment in the oil and gas sector. “So, one of the things that the presidential directive has done is to enable those who want to develop NAG to get the benefit of tax credits over the first 10 years of the project, after which it becomes a tax allowance.
Mshelbila disclosed that train seven is halfway done and currently at about 60 per cent, adding that the company is more than halfway through the project’s engineering, procurement and construction. National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture , Dele Kelvin Oye, has warned that while the immediate effect of the devaluation of the naira on exports may be positive, the broader implications are multifaceted, especially, trade.